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governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank yo
governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to...
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Jan 15, 2013
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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Jan 16, 2013
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this issue raises all the deficit issues. it should. it really is after the fact. >> the reason we're having the problem now because they don't pass a budget. >> yes. exactly. look, they're avoiding the really tough stuff, which is dealing with long term deficits which we face today. they're much worse than what we faced in the '80s and '90s. they've got to get serious about doing the hard work that has to be done on both sides of the aisle to deal with the specifics how you get this done. >> sir, do you think the u.s. has a spending problem? >> look, we've got a deficit problem. >> is that the same thing as a spending problem or is it different? >> you've got -- look, when i was in congress and when we balanced the budget in the '90s, we were taking in roughly, these figures will be a little off, roughly, we were taking in 20% of gdp and spending 20% of gdp. that seems to me to be a fair place to come out. maybe you could put it at 18, maybe you could put it at 21 or 22. but get an agreement on that, and then go to work on both sides o
this issue raises all the deficit issues. it should. it really is after the fact. >> the reason we're having the problem now because they don't pass a budget. >> yes. exactly. look, they're avoiding the really tough stuff, which is dealing with long term deficits which we face today. they're much worse than what we faced in the '80s and '90s. they've got to get serious about doing the hard work that has to be done on both sides of the aisle to deal with the specifics how you get...
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Jan 14, 2013
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one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars in iraq and afghanistan. so we've made progress. we are moving towards our ultimate g
one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards...
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Jan 21, 2013
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we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us at any time may face a job loss or a sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things do not zap our initiative, they strengthen us. [ applause ] they do not make us a nation of takers, they free us to take the risks that make this country great. [ cheers and applause ] we, the people, still believe that our obligations as americans are not just to ourselves but to all poste
we must make the hard choices to reduce the chosts of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [ cheers and applause ] for we remember the lessons of our past when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the...
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Jan 17, 2013
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i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending today. they penned an op-ed on why the threat of a default ought to be used to force a balanced budget a threat of a debt default. i believe this is completely dead wrong. i think it will lower our credit rating, damage our economy. by the way it's totally unworkable. but we got to talk. joining me now is the co-author of that op-ed. we bring back our friend, cnbc contributor a former bush white house deputy press secretary. let me begin with you mr. nino. i want to cut spending like nobody's business. you mess around with the debt ceiling i'm going tell you, buddy, the whole world, fiscally, economically and politic
i'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending...
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Jan 18, 2013
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i like the enforced budget cuts because that really helps the deficit. so i'm in favor of that. >> it's another reason the vix is down this much today, judge. you look at the market the market is pretty flat today. but the vix is just getting cranked. >> on your point, sorry to interrupt, i want to let everybody know the vix is now, reading a note from our news desk the vix is below 13 for the first time since june of 2007. and lot of that would mean that the risk premiums of course have shrunk and that would be because people are looking out saying rather than at the end of january beginning of february they've got to really ramp up the rhetoric and we get right back to the fisticuffs we saw in december we're not perhaps going to get that now because of this what john harwood just reported. >> another down day for apple and off more than 4% this week is a bottom near or will demand worries keep weighing on shares? pete, i'll go to you on this one. >> stay away from apple. i don't understand what the fascination. everybody has had this fascination that t
i like the enforced budget cuts because that really helps the deficit. so i'm in favor of that. >> it's another reason the vix is down this much today, judge. you look at the market the market is pretty flat today. but the vix is just getting cranked. >> on your point, sorry to interrupt, i want to let everybody know the vix is now, reading a note from our news desk the vix is below 13 for the first time since june of 2007. and lot of that would mean that the risk premiums of course...
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Jan 18, 2013
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it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we -- we added a new entitlement, obama care, which some, i don't know what that's going to cost. there's some groups, i guess they would call them, if they're too conservative, but trillions and trillions of dollars of additional entitlements that we've just layered over the entitlements we already have. are we at the right level now? is this the perfect level of promises we've made? or would you even go above where we are right now? >> well, i think the problem that we have is that our health care sector is bloated by this enormous private insurance system that we have. this sort of mixed bag of insurance schemes. that makes our he
it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we --...
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they are more or less speaking to their deficit reduction target and very significantly this agreement which beat expectations. it certainly was a risk that met up the business association and the unions would not come to agreement about making the labor market more flexible, that it would have to be imposed by the legislature and that could have created more legislation. but in the end, they got three out of the last five unions to agree. >> do they have growth? >> well, you know, who does? i think at this point, i don't think we can ask too much out of france right now. they've got, i think, the targets for gdp is now 0.2%, 0.3%. but it's kind of the same thing facing the rest of europe. i don't know if that's is particular to them and they are going to be able to pay their debts. it's not going to be a spiral debt that puts us back into the crisis again. >>> national retail federation conference in new york kicks off a week for gatherings in the u.s. >> we'll take a look at what investors could glean from these events. what are you doing? nothing. are you stealing our daughter's sch
they are more or less speaking to their deficit reduction target and very significantly this agreement which beat expectations. it certainly was a risk that met up the business association and the unions would not come to agreement about making the labor market more flexible, that it would have to be imposed by the legislature and that could have created more legislation. but in the end, they got three out of the last five unions to agree. >> do they have growth? >> well, you know,...
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plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies....
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Jan 20, 2013
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like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are 60 votes in the senate, 219 votes in the house, if the process can just play itself out and we can really get votes on some of these things we think. but it's going to be hard work. >> what's -- as far as you're concerned, the window in a second term for a president to get something done? we certainly hear 14, 16 months and then he's kind of in lame duck status. >> i don't believe that let's look at where we are now, not like casting about -- roaming the halls of the house looking for things to do. whether it is deficit reduction, energy, gun control, safety, immigration, these are all stacked u
like a lot of issue we are dealing with, immigration, how we reduce our deficit have strong feelings. we think if you look at the public on some of these measures, i think knute newtown changed the debate. sadly, it took a tragedy like that seeing a lot of people. by the way you democrats and republicans think differently about this issue, post that tragedy. so i think it's going to take a lot of work, it's not going to be easy. but we think we can get to a point, as we said, i think there are...
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Jan 18, 2013
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if there were, we wouldn't have a deficit. let me give you an example. february 15th. i choose that day because that might be the day. might be a little early but it might be the day that we stop being able to mess things around. okay. the federal government on that day will take in an estimated $9 billion in revenues. again, that is mostly taxes. on the same day, $52 million will need to be paid out. we've got a shortfall of $43 billion. they need to prioritize bills on that day. they can put off others. we're not entirely sure that prioritizing payments is legal but that's probably what they will have to do. the treasury could wait until it has enough revenue on hand to cover one full day's payments and means all the bills would be paid late and we know how that storts starts to look. johnny isakson is a member of the senate finance committee. senator, thank you for being with us. i wanted to talk with you for quite some time. you have an extensive, extensive business background. and you can agree that deciding to pay some bills but not others while you wait to scrap
if there were, we wouldn't have a deficit. let me give you an example. february 15th. i choose that day because that might be the day. might be a little early but it might be the day that we stop being able to mess things around. okay. the federal government on that day will take in an estimated $9 billion in revenues. again, that is mostly taxes. on the same day, $52 million will need to be paid out. we've got a shortfall of $43 billion. they need to prioritize bills on that day. they can put...
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Jan 20, 2013
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taxes, spending, deficits, gun control, immigration. a lot to do and not a great environment to get it done. but with us now, two men who may not have to worry too much about that, but who may give us great insights if possible to get great things done. barney frank, the former democratic congressman from massachusetts and steve latourette, republican from ohio. first to you, congressman, as the democrat, what does the president have to do differently in the second term to have a more cooperative, working environment. to you, sir, what does the republican party need to do to try to get some things done? >> i have to differ with the preface, john. >> i thought you might. >> barack obama -- look, this notion that partisanship has taken over. it began when barack obama became president. i was chairman of the financial service committee of 2007 in the bush administration and i worked very closely with hank paulson, secretary of the treasury. we worked on putting fannie mae and freddie mac to stop the lawsuits. george bush went to harry reid
taxes, spending, deficits, gun control, immigration. a lot to do and not a great environment to get it done. but with us now, two men who may not have to worry too much about that, but who may give us great insights if possible to get great things done. barney frank, the former democratic congressman from massachusetts and steve latourette, republican from ohio. first to you, congressman, as the democrat, what does the president have to do differently in the second term to have a more...
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Jan 21, 2013
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when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun control, if not a ban on assault weapons. tha
when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support...
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Jan 20, 2013
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the biggest problem in washington is there is a trust deficit. republicans blame the president, the president and the democrats blame republicans for that. he's the singular leader of the country. we can all debate that. he needs to find a way to break it and start a second term. >> he joked because his drawers teenagers and want to spend less time with him and he may have more time to hang out with members of congress and back slap. has that been an issue? >> i don't see him spending a lot more time with members of congress. i think he brushed that aside when asked about it in a recent press conference. i think and you just had time with him, with the historians, but what i see in him is a man more confident, he's tougher, i think he's smarter politically, i think he's bolder. i'm not sure he's wiser in terms of how do you get things done in this city. that's where we'll have to let that play out. i think he may have a -- portrait of him in "the new york times" saying he's not only scarred but he has a smaller sense of what can be accomplished.
the biggest problem in washington is there is a trust deficit. republicans blame the president, the president and the democrats blame republicans for that. he's the singular leader of the country. we can all debate that. he needs to find a way to break it and start a second term. >> he joked because his drawers teenagers and want to spend less time with him and he may have more time to hang out with members of congress and back slap. has that been an issue? >> i don't see him...
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republicans worked with democrats to fix social security, bill clinton could look back and talk about the deficit reduction plan. other things they had done a little bit together. it's harder for president obama to do that because there's been so much polarization. >> polarization has been on both sides. it would be a good step for the president, i actually don't expect him to take it. to try to put that behind, to have at least a rhetorical frame for being more enveloping. obviously in the last few days, last week or so, he hasn't taken that tact. he's, he had his press conference about a week ago. he's had some, they've floated some stories about how they're going to have a more confrontational stand. and that seems to be the direction they're planning to take. nevertheless, at least if i were in their position, i would be saying, you need to rhetorically try to put that behind the country. if the opposition then doesn't take, reach out and pick up the mantle that you've offered to them, that's their problem. >> does the president have to refer to the bitterly divided country and congress? i me
republicans worked with democrats to fix social security, bill clinton could look back and talk about the deficit reduction plan. other things they had done a little bit together. it's harder for president obama to do that because there's been so much polarization. >> polarization has been on both sides. it would be a good step for the president, i actually don't expect him to take it. to try to put that behind, to have at least a rhetorical frame for being more enveloping. obviously in...
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Jan 13, 2013
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. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get together with an open mind and make decisions based on the people they represent. that is where no labels is so important because we have the politics of the right and the left and the center, and with we have forgotten the politics of all problem solving and representing the people in all that we do. what we are doing today is not normal and for the younger generation growing up seeing the way that politics is playing out is not the norm. that is why joe and i coming from the backgrounds we do, you get the right and the left in a roop wheth room and whether it is on guns or anything else,ing what is the pa
. >> we have dialogue about the deficit and we have simpson bowles which everybody ignores, and i know that you have written in the op-ed what is reasonable, and what is reasonable in terms of gun control when it comes to states who understand the gun culture and how deeply it is embedded into the culture of some of the states? >> well, it has to be a little bit of the spectrum like your show, but it has to be from both ends of the spectrum and in tend the duly elected officials get...
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Jan 15, 2013
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he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >
he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are...
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Jan 13, 2013
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. >> we have dialogue about the deficit and we have simpson bowles which everyone promptly ignored. it's kind of going back into the conversation now, but the question is, and i know you've written an op-ed, you know, what's reasonable? what is reasonable in terms of gun control when it comes to states that understand the gun culture and how deeply it is embedded in the culture of some of these states? >> well it's going to have to be a little bit from all of the above and that's why, you know, your show -- >> assault weapons ban. >> we've heard from the special interest groups, we're hearing from, you know, one end of the spectrum or that end of the spectrum, but in the end, our duly elected officials get together with an open mind and they then make decisions on behalf of the people they represent. that's where getting back to no labels is so important. you know, we've got the politics of right and left and center, but we've forgotten the most important part of all and that's the politics of problem solving. representing the people in all that we do. what we are doing today is not
. >> we have dialogue about the deficit and we have simpson bowles which everyone promptly ignored. it's kind of going back into the conversation now, but the question is, and i know you've written an op-ed, you know, what's reasonable? what is reasonable in terms of gun control when it comes to states that understand the gun culture and how deeply it is embedded in the culture of some of these states? >> well it's going to have to be a little bit from all of the above and that's...
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that's the deficit. the accumulated annual deficits or shortfalls plus interest make up the national debt. that's more than $16 trillion today. the debt had run up under republican and democratic presidents and congresses. both have had opportunities to tackle it, but it's never politically palatable. president obama formed this simpson/bowles commission, headed by simpson and erskin bowles to cut the debt by $4 trillion over 10 years. critics say president obama has all but ignored it. commission co-head simpson says the growing threat poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is, but when it comes, going to be so swift and so savage. >> reporter: obama's plan proposes $360 billion in cuts to medicaid, medicare and other health programs over the next decade. but because costs in those programs are rising fast, the debt would be $6.4 trillion higher in 10 years. the president's budget also proposes cuts to discretionary and mandatory spending that woul
that's the deficit. the accumulated annual deficits or shortfalls plus interest make up the national debt. that's more than $16 trillion today. the debt had run up under republican and democratic presidents and congresses. both have had opportunities to tackle it, but it's never politically palatable. president obama formed this simpson/bowles commission, headed by simpson and erskin bowles to cut the debt by $4 trillion over 10 years. critics say president obama has all but ignored it....
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not when it comes to our nation's finances, but this trust deficit in washington. the republicans, you have the president, doing this, boom, and just how is this even going to play out over the next couple of weeks? >> well, you have the debt ceiling, which is the current fight. and what you have is confrontation, not conversation. how is it going to play out? again, the president believes he has the political high ground now and he believes he's -- he believes his position is right. that you don't want to negotiate over the debt ceiling, let's have a bigger conversation. the republicans, they control the house of representatives, they still have a decent chunk of votes, the democrats control the senate, they say no way, sir. and so you have this fight over the debt ceiling, but it is about bigger issues. the debt ceiling has nothing to do with immigration reform, nothing to do with the proposals on gun control, nothing to do with anything else the president might want to do in his second term, but guess what, it does affect the climate in washington. and the fact
not when it comes to our nation's finances, but this trust deficit in washington. the republicans, you have the president, doing this, boom, and just how is this even going to play out over the next couple of weeks? >> well, you have the debt ceiling, which is the current fight. and what you have is confrontation, not conversation. how is it going to play out? again, the president believes he has the political high ground now and he believes he's -- he believes his position is right. that...
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. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're
. >> reporter: president obama stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without...
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do you think there is a deficit of coverage there? >> no, i think there is a surfeit of coverage. there is, it has been on the front page every single day that this working group has been around. it's on television all the time. there's no bigger issue in america right now. >> i disagree respectfully because when you look at what's getting attention. david gregory bringing an empty clip on "meet the press." alex jones on to cnn and newspapers publishing the addresses of gun owners in the front page. so, that's what's getting attention. i read "the post" and read those stories and they're all around in the press, but ne'er not getting attention because it's the circus on the television. >> those stories are part of the larger story. >> true. >> they should be the larger story. >> it raises the attention of the larger issue, as well. >> we're going to come back to some of those very incidents that you mentioned, robert. let me come back to keli on this issue. went basically hay wire over vice president biden saying the possibility of executive orders. as if this meant that the gover
do you think there is a deficit of coverage there? >> no, i think there is a surfeit of coverage. there is, it has been on the front page every single day that this working group has been around. it's on television all the time. there's no bigger issue in america right now. >> i disagree respectfully because when you look at what's getting attention. david gregory bringing an empty clip on "meet the press." alex jones on to cnn and newspapers publishing the addresses of...
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president obama has racked up more spending, $1 trillion deficits. and it's time that he join us in this effort to get our fiscal house in order. what is a drag on the economy is the spending. that is what is hurting hard-working taxpayer right now. and so we need him to join us in this effort. >> at the end of the day, this is going to be a question about public opinion. what makes you think talking about not raising the debt ceiling or shutting down the government, what have you, is a winner in the court of public opinion? >> well, again, we don't want to shut down the government, but in the court of public opinion, people also know that the federal government and the out of control spending is unsustainable. and large majorities of the american people want us to cut spending, to start making the tough decisions, to balance our budgets, start living within our means. the american people, in their own families, they understand that you have to do that. you have to make the tough decisions. you have to get your budget, you've got to put it in order.
president obama has racked up more spending, $1 trillion deficits. and it's time that he join us in this effort to get our fiscal house in order. what is a drag on the economy is the spending. that is what is hurting hard-working taxpayer right now. and so we need him to join us in this effort. >> at the end of the day, this is going to be a question about public opinion. what makes you think talking about not raising the debt ceiling or shutting down the government, what have you, is a...
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he promised to pay down the deficit at least half in his first term. the first two years of his first term he had a democratic congress house and senate. he could have done anything he wanted. instead he put through an $800 billion stimulus bill and a $1.7 trillion obama care. if he wasn't going to address it then, when is he going to address it? he is essentially holding congress hostage right now and the american people with these scare tactics. >> okay, newt gingrich addressed this whole issue on "cbs this morning" and i'll read you what he said. "it isn't a smart fight for congressional republicans to pick, because in the end, it's a threat they can't sustain. no one is going to default, no one will allow the united states to not pay its bills, no one is going to accept the economic costs. it rallies the entire business community to the president's side." so even newt gingrich says this isn't a wise fight to pick. you may feel strongly about spending cuts but this isn't the right time to fight. >> when is the right time? when is the right time? bec
he promised to pay down the deficit at least half in his first term. the first two years of his first term he had a democratic congress house and senate. he could have done anything he wanted. instead he put through an $800 billion stimulus bill and a $1.7 trillion obama care. if he wasn't going to address it then, when is he going to address it? he is essentially holding congress hostage right now and the american people with these scare tactics. >> okay, newt gingrich addressed this...
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that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our bu
that is if congress doesn't come up with what it calls a credible medium term deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current...
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two months, three months, four months and more if need be when he wants to do big things on debt and deficit, big things on medicare, comprehensive immigration reform, and will be in a fight with republicans over that? this is going to be a test of how long the president is prepared to wage what -- to get hard stuff done to get an assault weapons ban, to get the magazine clips, universal background check is easier, but the president has to dig in and fight and it will be fascinating to watch. >> this is a statement we have gotten from the nra, national rifle association, part of the statement. we look forward to working with congress on a bipartisan basis to find real solutions to protecting america's most valuable asset, our children. attacking firearms and ignoring children is not a solution to the crisis we face as a nation, only honest, law abiding gun owners will be affected and our children will remain vulnerable to the inevitability of more tragedy. to the inevitability of more tragedy, john king, to the latter part of that statement, congress could enact everything that the president
two months, three months, four months and more if need be when he wants to do big things on debt and deficit, big things on medicare, comprehensive immigration reform, and will be in a fight with republicans over that? this is going to be a test of how long the president is prepared to wage what -- to get hard stuff done to get an assault weapons ban, to get the magazine clips, universal background check is easier, but the president has to dig in and fight and it will be fascinating to watch....
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you can't solve the financial deficit until they solve the trust deficit. maybe it's hopeful idealism. but maybe they made a small down payment today. >> i with us also thinking as i was watching the president review the troops, and you heard leon panetta talk about the first lady and jill biden and how much they have done for their troops and their families. but i'm willing thinking coming into this next phase, this is going to be a president that could have some difficult relationships with generals. he has always been concerned about the generals and not being overtaken by them. and he has spoken an awful lot about that as presidents have to make their own decisions, not be led too much by the generals. i think the nomination of chuck hagel is somebody who was a sergeant, whom he believes comes at the pentagon from the view of the bottom of the ladder, not at the top of the ladder. and so i think you're going to have some real issues. >> general stanley mcchrystal wrote about that actually in his new book. he talked about the deficit of trust they had ea
you can't solve the financial deficit until they solve the trust deficit. maybe it's hopeful idealism. but maybe they made a small down payment today. >> i with us also thinking as i was watching the president review the troops, and you heard leon panetta talk about the first lady and jill biden and how much they have done for their troops and their families. but i'm willing thinking coming into this next phase, this is going to be a president that could have some difficult relationships...
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jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow up, you voted early, i was watching the board. you voted early. you didn't vote to see if it was going to pass and then vote no. was the idea that obama kind of lost some leverage there that you wanted to see it fail because obama now has to go back to the debt ceiling and he doesn't have the benefit of tax cuts looming? >> i knew it was going to pass. after the republicans walked away from the negotiations and then tried to plan b by speaker republican speaker bane thear failed where republicans wouldn't support t
jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow...
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we have begun to reduce our deficit through a balanced mix of spending cuts and reforms to a tax code that at the time when we both came in was skewed in favor of the wealthy at the expense of middle class americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, he has been a wonderful friend and dependable advisor the out these last four years. there is an unofficial thing at treasury -- no peacocks commager, no winners. that would be a good saying for all of washington. few embody that ideal better than tim geithner. that is why when he was thinking about leaving a couple of years ago, i had to personally get on my knees with carol to help convince him to stay on a little bit longer. i could not be more grateful to carol and the entire family for letting him make
we have begun to reduce our deficit through a balanced mix of spending cuts and reforms to a tax code that at the time when we both came in was skewed in favor of the wealthy at the expense of middle class americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, he has been a wonderful friend and dependable advisor the out these last four years. there is an...
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the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay our bills. we handle our business. and then we can move on -- because america has a lot to do. we've got to create more jobs. ofve got to boost the wages those who have work. we've got to reach for energy independence. we've got to reform our immigration system. we've got to give our children the best education possible, and we've got to do everything we can to protect them from the horrors of gun violence. and let me say i'm grateful to vice president biden for his work on this issue of gun violence and fo
the deficit. so it shouldn't be surprising, given all this talk, that the american people think washington is hurting, rather than helping, the country at the moment. they see their representatives consumed with partisan brinksmanship over paying our bills, while they overwhelmingly want us to focus on growing the economy and creating more jobs. so let's finish this debate. let's give our businesses and the world the certainty that our economy and our reputation are still second to none. we pay...
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guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff de
guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others....
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the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the speaker has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure we are reducing the health care spending, the main driver of the deficit, we can arrive at a package to get this thing done. i am happy to have that conversation. what i will not do is to have that that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you have medicare or medicaid or otherwise/things that the american people do not believe should be slashed that we will threatened to wreck the entire
the consensus is we need 4 trillion dollars to stabilize the debt, deficit. that means we need 1.5 trillion dollars more. the package i authorized to the speaker before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure we're being responsible about the debt and the deficit, it that if the conversation we're having, i am happy to have that conversation. by closing additional loopholes through tax reform, which the...
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the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and then we can move on, because america has a lot to do. we have to create more jobs, boost the wages of those that have worked and reached for energy independence, reformed immigration system. we have to give our children the best education possible and do everything we can to protect them from the horrors of gun violence. i am grateful to vice president biden for his work on this issue of gun violence and for his proposals, which i will review later today and address in the next few days and intend to vigorous
the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and...
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it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been addressed. but nevertheless, we have a set of a r
it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its...
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two issues that you put on the table that the present will be facing, immigration, the debt and deficit. >> that is absolutely true, these will be two big issues. on the gun-control issue, but no one is talking about taking everyone's guns away. they are talking about sensible, common-sense measures to prevent some of the tragic incidents we have seen recently, in newtown, aurora, colorado. i think there will be time to get into the thick of these issues after tomorrow, but tomorrow will be a chance for the president, really, to bring the country together and say we need to reach common ground on some of the major problem we face. >> you were inside the bush white house. the president put on the table two big domestic agenda items, immigration reform, primarily because his own party said no, and social security reform. >>what advice would you give president obama, based on the lessons that you saw firsthand with president bush? >> the advice i would give to him is you cannot go wrong by doing what you promised you would do, by pressing the agenda and you promised the voters you promised
two issues that you put on the table that the present will be facing, immigration, the debt and deficit. >> that is absolutely true, these will be two big issues. on the gun-control issue, but no one is talking about taking everyone's guns away. they are talking about sensible, common-sense measures to prevent some of the tragic incidents we have seen recently, in newtown, aurora, colorado. i think there will be time to get into the thick of these issues after tomorrow, but tomorrow will...
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., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't come here to about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something
., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't...
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finally, on the federal budget deficit and debt, the committee sees that the budget deficit will continue to decline over the next two years. but we do not characterize the debt and deficit at unsustainably high levels. we do think the deficit is reduced to $925 billion in 2013 and narrowed further, to $728 billion in 2014. that is down from $1.1 trillion last year. that gives you an overview of the committee consensus opinion and i would be happy to answer any additional questions you might how about the committee's outlook. i will be happy to entertain other questions as well. yes? >> just to clarify a little bit on the gdp dragon on the tax hike, was that on the payroll and income tax increases? >> that is correct. >> the 1.25% dragon, was out for the whole year? -- the 1.25% drag, was that for the whole year? >> we think it will be for the whole year of fiscal 2013. >> with the labour market and some improvement on as quick as it was, without just -- there was some sentiment that it might be slowing down. >> we are seeing drags on consumer spending, but also from the ongoing recession
finally, on the federal budget deficit and debt, the committee sees that the budget deficit will continue to decline over the next two years. but we do not characterize the debt and deficit at unsustainably high levels. we do think the deficit is reduced to $925 billion in 2013 and narrowed further, to $728 billion in 2014. that is down from $1.1 trillion last year. that gives you an overview of the committee consensus opinion and i would be happy to answer any additional questions you might...
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...
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down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor laws, workplace safety laws, environmental regulations to protect, in a sensible fashion, the economy. foreign countries can sell them cheaper the in this country and i think that applies to automobiles as well. maybe the way to have these sensible regulations is to have a sensible tax along the line you are talking about. host: we are talking with freshman democrat from pennsylvania, rep cartwright. next caller. caller: the definition of the fault is not being able to pay your bills. -- the definition of default is not being able to p
down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor...
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it will be planned to slowly but surely, what our nation out of debt, deficit, and declined garrett on your behalf, we will insist the democrats who run the rest of washington to the same. this debate is often argued in numbers and figures but it is really about and families like yours that bear the burden of a slow economy. constant uncertainty and. ever-changing government rules chase our jobs and opportunities overseas. when day to day life costs more and jobs pay less, we do not solve the problem by delaying our cattle decision -- spending decisions, raising taxes, or refusing to answer the most pressing economic challenges. with the swearing in of a new congress and the inauguration of president obama, this is an opportunity for a fresh start. government debt affects all of us. republicans will not to to provide a blank check for uncontrolled spending and constant nickel and dime tax increases. we should gut washington's budget, your budget. these are the challenges of our times. we have the guidance of great leaders in the past who have faced tougher challenges than this with gra
it will be planned to slowly but surely, what our nation out of debt, deficit, and declined garrett on your behalf, we will insist the democrats who run the rest of washington to the same. this debate is often argued in numbers and figures but it is really about and families like yours that bear the burden of a slow economy. constant uncertainty and. ever-changing government rules chase our jobs and opportunities overseas. when day to day life costs more and jobs pay less, we do not solve the...
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] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely accurate, especially in terms of what we did and what i did so with the was important for a historical record to present our perspective and also, currently, for people to understand that there were different policy choices, a different policy options and disagreements and that if we want to prevent this crisis from happening again, i really felt the public themselves need to engage more in financial reform and educate themselves better and make it an issue with their elected officials. i wanted to make the book accessible and i had recommendations to help them do that. >> the former head of the federal deposit insurance
] [applause] [applause] >> former senators kent conrad and judd gregg lead a discussion on debt and deficit issues like it 8:30 a.m. here on c-span 2. at 1:00 p.m. eastern, new immigration legislation, live from the national press club on c-span 2. >> why did you write a book about your experience? >> it was an important part of history. i felt the fdic perspective should be brought to bear. there had been some other accounts of the crisis that i thought were not completely...
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Jan 17, 2013
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. >> tomorrow, former senators conrad and grade lead a discussion on deficit issues. we will be live starting at 8:30 a.m. eastern on c-span to. and at 1:00 p.m. eastern, chamber of commerce president thomas downey year -- thomas donahue called for immigration legislation. we will be live from the national press club also on c- span to. -- c-span 2. >> he talked about the dream he had, he talked about for years, the american dream. it had been his dream. and he was in detroit a few months before. he talked about -- i have a dream that america will someday realize its principals in the declaration of independence. so i think he is just inspired by that moment. >> sunday, claiborne carson recalls his journey as a civil- rights activist, participating on the 1963 march on washington. it is part of three days of the tv this weekend, monday featuring authors and books on the inauguration. >> president obama officially launched his effort to reduce gun violence wednesday, calling for action in congress and signing 23 executive orders to deal with the issue. speaking before
. >> tomorrow, former senators conrad and grade lead a discussion on deficit issues. we will be live starting at 8:30 a.m. eastern on c-span to. and at 1:00 p.m. eastern, chamber of commerce president thomas downey year -- thomas donahue called for immigration legislation. we will be live from the national press club also on c- span to. -- c-span 2. >> he talked about the dream he had, he talked about for years, the american dream. it had been his dream. and he was in detroit a few...
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Jan 13, 2013
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he said he would cut the deficit in half. they passed the deficit a year ago, about cutting this. why is it not being cut now? i have been told both sides are not getting along, but he is the president, and he needs to lead. i do not understand how there are billions of dollars across the world to different countries. i know we do that for specific reasons, but we should be using some of that money to pay our deficits off. what i do not understand is, why are we continuing to do that, to help everybody else out and we should be taking care of our own country? host: let me show you the front page of the new york times. if we can move over -- we will move it over, here it is right here, a wide shot -- will be focusing on senator hagel in a couple of minutes and looking back at some of the things he has said over his tenure in the u.s. senate. that line from "the new york times" -- also from "the hartford courant" -- "the arizona republic repor" -- some local stories, beginning with "the chicago tribune" -- from "the detroit free press" -- the president will be sworn in. there will b
he said he would cut the deficit in half. they passed the deficit a year ago, about cutting this. why is it not being cut now? i have been told both sides are not getting along, but he is the president, and he needs to lead. i do not understand how there are billions of dollars across the world to different countries. i know we do that for specific reasons, but we should be using some of that money to pay our deficits off. what i do not understand is, why are we continuing to do that, to help...